Reuters: Hot Stocks: STOCKS NEWS THAILAND-Kasikorn raises Siam City Cement to outperform

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STOCKS NEWS THAILAND-Kasikorn raises Siam City Cement to outperform May 24th 2012, 07:06 Thu May 24, 2012 3:06am EDT Kasikorn Securities upgraded Siam City Cement Pcl to "outperform" from "neutral", citing a positive earnings outlook for the country's second-largest cement maker on rising cement demand and construction activity. The broker also raised its price target on the stock to 345 baht ($10.95) from 333 baht. By the midsession break at 0530 GMT, Siam City Cement was up 1.4 percent at 290 baht, having risen as high as 292 baht at one point, bucking softness in the broader market which had eased 0.4 percent. "The 12 percent correction in Siam City Cement's share price over the last 13 trading days has provided a suitable entry point below 300 baht," the broker said in a report. "We maintain a positive outlook on the cement business and expect accelerating construction activity during the current quarter to be a key driver for top line growth across the sector," it said. The broker said it expected Siam City Cement to report a 15 percent net profit increase for the April-June quarter to 1.2 billion baht ($38.07 million), with market conditions likely to relatively remain buoyant in the second half of the year. 1334 (0634 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:10 STOCKS NEWS THAILAND: Miner Banpu advances on sales projection Shares in the country's biggest coal miner, Banpu Pcl BANP.BK, gained more than 3 percent after the company said it was confident of meeting its 2012 sales target and expected to retain a margin of 48 percent. Banpu shares have dropped nearly 30 percent in the past three months, hovering around a 2 1/2 year low early this week, amid concerns a drop in global coal prices could affect the company's earnings. "The falling coal price was a negative factor but we think the weakness in the stock was over-discounted and it's now a buying opportunity," said Viwat Techapoonphol, a strategist at Tisco Securities. Banpu shares have been on a downward trend partly due to widespread short-selling in market big caps, Viwat added. By 0400 GMT, the stock was trading up 1.29 percent at 470 baht, climbing at one point to 480 baht. For the company statement, click (nL4E8GO14W) 1027 (0327 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.52 baht) Link this Share this Digg this Email Reprints

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